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Conseco Seeks Amendment of Its Credit Facility
Date:3/24/2009

CARMEL, Ind., March 24 /PRNewswire-FirstCall/ -- Conseco, Inc. (NYSE: CNO) today announced that it is seeking to amend its existing $911.8 million senior secured credit agreement. Banc of America Securities LLC will act as lead arranger in connection with the amendment. The amendment, which does not seek any additional borrowing or any changes in the current repayment schedule, is expected to provide for, among other things, amendments and/or waivers of covenants, including financial covenants, and an increase in the interest rate payable by the Company. The proposed amendment will require consent from a majority of the lenders. There can be no assurance that such amendments or waivers will be obtained or that the terms that can be obtained would be satisfactory to the Company.

About Conseco

Conseco, Inc.'s insurance companies help protect working American families and seniors from financial adversity: Medicare supplement, long-term care, cancer, heart/stroke and accident policies protect people against major unplanned expenses; annuities and life insurance products help people plan for their financial futures. For more information, visit Conseco's website at www.conseco.com.

Cautionary Statement Regarding Forward-Looking Statements. Our statements, trend analyses and other information contained in this press release relative to markets for Conseco's products and trends in Conseco's operations or financial results, as well as other statements, contain forward-looking statements within the meaning of the federal securities laws and the Private Securities Litigation Reform Act of 1995. Forward-looking statements typically are identified by the use of terms such as "anticipate," "believe," "plan," "estimate," "expect
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